How much does an apartment cost in the main cities in the country: in Bucharest, the average…

Apartments for sale rose in price in March by an average of 11% nationally, while in Bucharest the increase was 13%, but the biggest advance was in Braşov, with an increase of 18% to old apartments, shows an analysis carried out by the Storia platform, launched by OLX.

At the national level, the asking price per square meter for new apartments increased by 13%, and for old apartments by 9%.

As for the lifetime of property for sale ads on the site, it has decreased by 41% compared to March 2023 and by 29% compared to February 2024, which shows that user interest is higher and that properties it trades faster.

“We found a firm trend of increasing interest in apartments for sale (+56%), exceeding the increase in interest in houses for sale (+32%). In parallel, we also noticed a reversal of direction in the rental market, with a decline in the growth of interest in apartments for rent (-12%). These developments reflect not only the changing preferences of consumers, but also a different dynamic in the real estate market”, said Răzvan Ceapa, Head of Operations Storia & OLX Imobiliare.

The smallest price difference between the two types of buildings (new vs. old) is in Cluj Napoca, below 1% in favor of new apartments. Instead, the biggest price difference is found in Braşov, where old apartments are 9% cheaper compared to new apartments. At the same time, the cities of Iasi and Sibiu remain the only ones where the prices of old apartments are higher than the prices of new apartments, by 3% and 4%, respectively.

In Bucharest, the average price for the sale of new and old apartments in March 2024 was 1,799 euros/square meter. For a new apartment, the average was 1,824 euros/square meter, 15% higher than March 2023 and 4% higher than February 2024. Old apartments had an asking price of 1,771 euros/square meter, 10% higher than in March of last year and 2% higher than in February of the current year.

In Cluj-Napoca, the houses had an average selling price of 2,651 euros/square meter in March. In the case of a new apartment, the average was 2,653 euros/square meter, 7% higher compared to March 2023. Old apartments in Cluj-Napoca had an average asking price of 2,649 euros/square meter, 12% higher higher than in the same month of the previous year.

In Iasi, the average asking price was 1,553 euros/square meter. For new apartments there was an average year-on-year increase of 11%, to 1,538 euros/square meter, while old apartments registered an increase of 13%, to 1,585 euros/square meter.

In Timisoara, the average price of the apartments put up for sale on storia.ro was 1,557 euros/square meter. The average for new apartments was 1,568 euros, 4% higher than in March 2023, and for old apartments there was a 10% increase, reaching an average asking price of 1,552 euros/square meter.

In Brasov, the average asking price for new and old apartments was 1,937 euros/square meter. For new apartments, the demand reached 2,040 euros/square meter, 8% higher than in March 2023. However, the prices of old apartments increased rapidly, by 18% compared to the same month last year, reaching an average of 1,848 euros/square meter.

In the case of the city Constant, the average asking price was 1,712 euros/square meter. The new apartments had an asking price of 1,758 euros/square meter, 5% higher than the same month of the previous year. At the same time, old apartments had average asking prices 9% higher than in March 2023, reaching a value of 1,673 euros/square meter.